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Total: Port Arthur Refinery not as Profitable as First Thought

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Total's refinery in Port Arthur, Texas has not been as profitable as first hoped, admitted the company's head of Refining and Chemicals, Patrick Pouyanne, speaking to reporters at the on the sidelines of the IHS Cambridge Energy Research Associates conference in Houston. Total has spent billions of dollars on upgrading the refinery since 2008 in the hope that it could process an anticipated influx of Mexican, Canadian and Venezuelan heavy crude. 

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